Message 31
I'm going to update all the trades that were taken last week...
Trade 17
I add a further position short @ 1.4365 (50,000 units) with a 50pip hard SL which took total capital at risk for the overall trade to 5%.
I closed them both on Friday afternoon...it turned out I closed them too early, but to be honest it was the start of the bank holiday, I was tired and just wanted to focus on relaxing without having to keep a tab on my trades. So I'm comfortable that I left another 50pips or so in the market.
Trade 16
Closed 50k @ 1.4336 / +7 pips / +£17.65
Trade 17
Closed 40k @ 1.4333 / +29 pips / +£88.58
As I mentioned in message 29 I took 4 sets of trades on Thursday 27th - which actually resulted in 9 individual trades as follows:
Trade 7 - 15
EUR / USD - Short - 60k units @ 1.4255 - 25pip hard SL - 2.05% capital at risk
Closed @ 1.4280 / -25 pips / -£93.64
USD / CAD - Short - 50k units @ 1.0979 - 34pip hard SL - 1.76% capital at risk
Closed @ 1.0971 / +7pips / +£20.85
NZD / USD - Long - 40k units @ 0.6805 - 45pip hard SL - 1.71% capital at risk
Closed @ 0.6803 / -1pip / -£3.46
I took these trades for technical reasons, but closed out the CAD and NZD trades too soon as they went into a decent profit not long after! The EUR trade was plain stupid...took it as a hedge against the other trades and left it open too long - very stupid trade, I should have trusted my other trades - lesson learned!
EUR / USD - Long - 80k units @ 1.4256 - 16pip hard SL - 1.44% capital at risk
Closed @ 1.4240 / -16pips / -£77.67
Price unfortunately broke the 1H trendline - not an A+ trade in retrospect.
USD / CAD - Short - 50k units @ 1.0978 - 32 pip hard SL - 1.72% capital at risk
Closed @ 1.1010 / -33pips / -£91.90
NZD / USD - Long - 50k units @ 0.6802 - 22 pip hard SL - 1.50% capital at risk
Closed @ 0.6817 / +15 pips / +£46.25
EUR / USD - Long - 40k units@ 1.4293 - 101 pip hard SL - 2.50% capital at risk
Closed @ 1.4347 / +54 pips / +£133.03
Good trades, but SL got hit in CAD due to a spike in price - unfortunate.
EUR / USD - Long - 60k units @ 1.4353 - 53 pip hard SL - 3% capital at risk
Closed @ 1.4364 / +11pips / +£42.01
GBP / USD - Long - 20 k units @ 1.6229 - 102 pip hard SL - 2.5% capital at risk
Closed @ 1.6263 / +34pips / +£41.81
The USD was falling across the board rapidly so I just entered some exposure with the GBP & EUR for a quick gain in pips.
All in all I definitely trades far too much and took too many speculative trades which were not A+. Part of this was in frustration to missing out on the decent move the day before by closing my trade too early. Need to let trades come to me and not go chasing trades - although I still ended up in net profit, it was quite a tiring stressful day of trading!
